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Bank of South Carolina Corporation Announces Second Quarter Earnings

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Bank of South Carolina Corporation (OTCQX: BKSC) reported record second-quarter earnings of $1.96 million, or $0.36 basic and $0.35 diluted earnings per share, marking an 11.54% increase from Q2 2024. The bank's six-month earnings rose 19.83% to $3.75 million compared to the same period in 2024.

Key performance metrics showed significant improvement, with net interest margin exceeding 4% for the second consecutive quarter. The bank maintained strong asset quality with low nonperforming loans, while achieving annualized returns on average assets of 1.33% and average equity of 13.73% for the first half of 2025.

Bank of South Carolina Corporation (OTCQX: BKSC) ha registrato utili record nel secondo trimestre pari a 1,96 milioni di dollari, ovvero un utile base di 0,36 dollari e diluito di 0,35 dollari per azione, segnando un aumento dell'11,54% rispetto al secondo trimestre del 2024. Gli utili del semestre sono cresciuti del 19,83%, raggiungendo 3,75 milioni di dollari rispetto allo stesso periodo del 2024.

I principali indicatori di performance hanno mostrato un miglioramento significativo, con un margine di interesse netto superiore al 4% per il secondo trimestre consecutivo. La banca ha mantenuto una solida qualità degli attivi con bassi prestiti in sofferenza, ottenendo rendimenti annualizzati sugli attivi medi del 1,33% e sul patrimonio netto medio del 13,73% nella prima metà del 2025.

Bank of South Carolina Corporation (OTCQX: BKSC) reportó ganancias récord en el segundo trimestre de 1,96 millones de dólares, o ganancias básicas de 0,36 dólares y diluidas de 0,35 dólares por acción, lo que representa un aumento del 11,54% respecto al segundo trimestre de 2024. Las ganancias del semestre aumentaron un 19,83%, alcanzando los 3,75 millones de dólares en comparación con el mismo periodo de 2024.

Los principales indicadores de desempeño mostraron una mejora significativa, con un margen de interés neto superior al 4% por segundo trimestre consecutivo. El banco mantuvo una sólida calidad de activos con bajos préstamos morosos, logrando rendimientos anualizados sobre activos promedio del 1,33% y sobre el patrimonio promedio del 13,73% en la primera mitad de 2025.

Bank of South Carolina Corporation (OTCQX: BKSC)은 2분기� 196� 달러� 기록적인 수익� 보고했으�, 주당 기본 수익은 0.36달러, 희석 수익은 0.35달러� 2024� 2분기 대� 11.54% 증가했습니다. 6개월� 수익은 2024� 같은 기간� 비해 19.83% 증가� 375� 달러� 기록했습니다.

주요 성과 지표는 � 개선� 보였으며, 순이자마진은 � 분기 연속 4%� 넘었습니�. 은행은 낮은 부� 대출로 자산 품질� 견고하게 유지했으�, 2025� 상반� 평균 자산 수익률은 1.33%, 평균 자기자본 수익률은 13.73%� 달성했습니다.

Bank of South Carolina Corporation (OTCQX: BKSC) a annoncé des bénéfices records au deuxième trimestre de 1,96 million de dollars, soit un bénéfice de base de 0,36 dollar et un bénéfice dilué de 0,35 dollar par action, marquant une augmentation de 11,54% par rapport au deuxième trimestre 2024. Les bénéfices sur six mois ont augmenté de 19,83%, atteignant 3,75 millions de dollars par rapport à la même période en 2024.

Les indicateurs clés de performance ont montré une amélioration significative, avec une marge nette d'intérêt dépassant les 4% pour le deuxième trimestre consécutif. La banque a maintenu une forte qualité d'actifs avec peu de prêts non performants, tout en réalisant des rendements annualisés sur les actifs moyens de 1,33% et sur les capitaux propres moyens de 13,73% pour le premier semestre 2025.

Bank of South Carolina Corporation (OTCQX: BKSC) meldete Rekordgewinne im zweiten Quartal von 1,96 Millionen US-Dollar, beziehungsweise einen Basisgewinn von 0,36 US-Dollar und einen verwässerten Gewinn von 0,35 US-Dollar je Aktie, was eine Steigerung von 11,54% gegenüber dem zweiten Quartal 2024 bedeutet. Die Halbjahresgewinne stiegen um 19,83% auf 3,75 Millionen US-Dollar im Vergleich zum gleichen Zeitraum 2024.

Wichtige Leistungskennzahlen zeigten eine deutliche Verbesserung, wobei die Nettozinsmarge zum zweiten Mal in Folge über 4% lag. Die Bank hielt eine starke Vermögensqualität mit niedrigen notleidenden Krediten aufrecht und erzielte annualisierte Renditen auf durchschnittliche Vermögenswerte von 1,33% sowie auf das durchschnittliche Eigenkapital von 13,73% für das erste Halbjahr 2025.

Positive
  • None.
Negative
  • Provision for credit losses increased to $100,000 from $50,000 in Q2 2024
  • Total other expense rose to $3.66 million from $3.34 million year-over-year
  • Slight decline in total assets to $572.9M from $590.6M in Q2 2024

CHARLESTON, S.C., July 10, 2025 /PRNewswire/ -- The Bank of South Carolina Corporation (OTCQX:BKSC) announced unaudited earnings of $1,956,155, or $0.36 basic and $0.35 diluted earnings per share for the quarter ended June 30, 2025 � an increase of $202,357, or 11.54%, from earnings for the quarter ended June 30, 2024 of $1,753,798, or $0.32 basic and diluted earnings per share. Unaudited earnings for the six months ended June 30, 2025 increased $620,575, or 19.83%, to $3,750,169 compared to $3,129,594 for the six months ended June 30, 2024. Annualized returns on average assets and average equity for the six months ended June 30, 2025 were 1.33% and 13.73%, respectively, compared with June 30, 2024 annualized returns on average assets and average equity of 1.04% and 13.21%, respectively.

Eugene H. Walpole, IV, President and Chief Executive Officer, stated, "We are pleased to report net income of $1,956,155 for the quarter - our highest second-quarter earnings on record and a 12% increase over the same period in 2024. This strong performance is primarily driven by the continued improvement in our net interest margin, which exceeded 4% for the second consecutive quarter and highlights the effectiveness of our disciplined pricing strategy. To be firmly ahead of both last year's earnings to date and the current-year profit plan is a credit to our exceptional team of professional bankers. Meanwhile, loan demand across our markets remains robust, and our customers continue to prosper, as reflected in the low percentage of nonperforming loans on our balance sheet. As we enter the second half of the year, we remain steadfast in our commitment to delivering outstanding customer service, upholding a high standard of asset quality, and leveraging capital with a long-term perspective."

Selected Condensed Consolidated Financial Data

(Unaudited)








For the Three Months Ended


June 30,
2025

March 31,
2025

December 31,
2024

September 30,
2024

June 30,
2024

Total Interest and Fee Income

$ 7,202,647

$ 6,737,106

$ 6,818,624

$ 6,848,831

$ 6,702,792

Total Interest Expense

1,304,294

1,325,566

1,406,681

1,566,695

1,564,362

Net Interest Income

5,898,353

5,411,540

5,411,943

5,282,136

5,138,430

Provision for Credit Losses

100,000

50,000

25,000

-

50,000

Net Interest Income After Provision for Credit Losses

5,798,353

5,361,540

5,386,943

5,282,136

5,088,430

Total Other Income

421,104

480,342

483,085

485,206

471,075

Total Other Expense

3,663,556

3,491,502

3,498,230

3,412,935

3,339,934

Income Before Income Tax Expense

2,555,901

2,350,380

2,371,798

2,354,407

2,219,571

Income Tax Expense

599,746

556,366

553,519

552,544

465,773

Net Income

$ 1,956,155

$ 1,794,014

$ 1,818,279

$ 1,801,863

$ 1,753,798













Earnings Per Share - Basic

$ 0.36

$ 0.33

$ 0.33

$ 0.33

$ 0.32

Earnings Per Share - Diluted

$ 0.35

$ 0.32

$ 0.33

$ 0.33

$ 0.32







Return on Average Assets

1.37%

1.28%

1.27%

1.24%

1.19%

Return on Average Equity

13.95%

13.51%

13.69%

14.04%

14.71%

Common Stock Shares Outstanding

5,422,475

5,429,005

5,432,762

5,445,519

5,457,907

Book Value Per Share

$ 10.47

$ 10.12

$ 9.63

$ 9.71

$ 8.93

Efficiency Ratio

57.97%

59.26%

59.34%

59.18%

59.54%

Net Interest Margin

4.33%

4.07%

3.97%

3.82%

3.68%

% Loans Past Due > 30 Days

0.29%

0.47%

0.25%

0.16%

0.19%

Allowance for Credit Losses as a % of Total Loans

1.06%

1.04%

1.01%

1.04%

1.04%

Community Bank Leverage Ratio

11.19%

11.17%

10.97%

10.72%

10.39%







Quarterly Averages:






Total Assets

$ 572,875,953

$ 566,714,762

$ 569,812,437

$ 578,014,415

$ 590,639,502

Total Loans

$ 363,065,921

$ 363,853,692

$ 363,015,990

$ 358,623,795

$ 359,514,482

Total Deposits

$ 501,217,309

$ 498,326,696

$ 500,693,110

$ 512,024,560

$ 516,221,132

Total Shareholders' Equity

$ 56,244,469

$ 53,865,410

$ 52,837,535

$ 51,043,788

$ 47,951,482

About Bank of South Carolina Corporation
The Bank of South Carolina Corporation is the holding company of The Bank of South Carolina ("The Bank"). The Bank is a South Carolina state-chartered financial institution with offices in Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and the West Ashley community and has been in continuous operation since 1987. Our website is . Bank of South Carolina Corporation currently trades its common stock on the OTCQX® Best Marketunder the symbol "BKSC".

Forward-Looking-Statements
This release contains forward-looking statements that are not historical facts and that are intended to be "forward-looking statements" as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, statements about the Company's plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company's future operating results. When used in this release, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company's loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company's loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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FAQ

What were Bank of South Carolina's (BKSC) Q2 2025 earnings?

BKSC reported Q2 2025 earnings of $1.96 million, or $0.36 basic and $0.35 diluted earnings per share, representing an 11.54% increase from Q2 2024.

How did BKSC's net interest margin perform in Q2 2025?

BKSC's net interest margin improved to 4.33% in Q2 2025, up from 3.68% in Q2 2024, marking the second consecutive quarter above 4%.

What is Bank of South Carolina's current asset quality?

BKSC maintained strong asset quality with only 0.29% of loans past due > 30 days and an allowance for credit losses at 1.06% of total loans.

How much did BKSC's six-month earnings increase in 2025?

BKSC's six-month earnings increased 19.83% to $3.75 million in 2025 compared to $3.13 million in the same period of 2024.

What is Bank of South Carolina's current Community Bank Leverage Ratio?

BKSC reported a strong Community Bank Leverage Ratio of 11.19% in Q2 2025, up from 10.39% in Q2 2024.
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74.21M
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Banks - Regional
Financial Services
United States
Charleston